adamlevy is following 7 Fools

An Interview with adamlevy

You will make mistakes, but it's important to recognize and learn from those mistakes.

The Fool:

Tell us about Your Dumbest Investment... and the lesson you learned from it.

adamlevy:

I loaned a friend of a friend $10. Never saw him again. Always get a person's contact information if you loan him money.

How I Invest

My mother used to have a knack for finding a good sale. My father said she had two rules to shopping. "1. Buy it if it's on sale. 2. If it's on sale, buy it."
Rule #1 is good. Rule #2 can get you in trouble. Our house was filled with useless junk and food items that spoiled before anybody even thought about eating them.
I apply rule #1 to my investing. I look for good companies that the market puts on sale for whatever reason, and then I buy them.